Tata AIA Life Insurance Co. Ltd. (Tata AIA), one of India’s leading life insurers, has declared a bonus of INR 1,465 crores for Participating (PAR) policyholders for the financial year 2024. The bonus payout announced is the highest ever paid by the Company, showcasing an increase of 24%overthe INR 1,183 crore bonuses announced in FY23.
Tata AIA’s robust risk management practices and strong investment management capabilities have consistently led to higher bonuses for policyholders, thereby gaining the trust of consumers who renew their policies. During FY24, Tata AIA achieved industry-leading Persistency performance (based on premium), ranking #1in 4 cohorts – 13th Month(89.40%), 25th Month (80.70%), 37th Month (75.00%) and 49th Month (73.10%). Persistency ratio indicates the percentage of policyholders who renew their life insurance policy every year, demonstrating their loyalty and trust in the brand.
Kshitij Sharma, Executive Vice President and Appointed Actuary, Tata AIA, said, “We are delighted to deliver yet another year of excellent performance of bonus payout in our participation policies. Tata AIA’s record bonus announcement underscores our commitment to rewarding our policyholders for their trust.” Tata AIA provides Participating products that help consumers accumulate wealth, earn income, secure their families, and fulfill their aspirations. These solutions offer life insurance, income, and bonuses, allowing them to grow their investments without market-linked risks.
